Pacific Rubiales sees its oil output from Colombia and Peru up 22 pct next year

Tue Nov 4, 2014 5:45pm EST
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LIMA Nov 4 (Reuters) - Pacific Rubiales Energy Corp said on Tuesday that it expects to produce between 81,200 and 87,300 barrels of oil equivalent per day (bpd) next year from its assets in Colombia and Peru, a 22 percent rise over 2014.

This year the Toronto-listed company's output in the two South American countries will reach between 66,100 and 71,400 bpd, Vice President of Planning Luis Pacheco said at an event in Lima.

Pacific Rubiales is the biggest private oil producer in Colombia, and is on track to produce between 61,000 and 65,000 bpd there this year and an expected 69,000 to 73,000 bpd in 2015, Pacheco said.

The company's output from Peru will likely more than double to reach up to 14,300 bpd next year, largely on its offshore oil block Z-1, Pacheco said.

At the start of 2014, Pacific Rubiales said it expected to produce between 148,000 and 162,000 bpd from all of its operations, a 15 percent to 25 percent rise over last year's production levels. (Reporting By Patricia Velez; Editing by Jonathan Oatis)